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Principles of MIcroeconomics ECON 222

Dr. Paul Lockard

IAI code S 3901                                                   3 credit hours, all online

College web address:                                             (http://WWW.bhc.edu)

 

E-mail                                                                                      

Lockardp@BHC.edu

Phone                                                                                                    

1-309-796-5326

Secretary’s Phone

1-309-796-5555

Office:                     

Black Hawk College Quad Cities Campus Bldg. 1, Room 356

Office Hours: 

Monday, Wednesday, Friday  9:00 -10:00  Tuesday, Thursday, 8:30-9:30

You can send me emails anytime – I will be able to reply within a short time during the day and on Saturdays.  However, I am not available at night AFTER 9 PM or Sunday mornings.

Personal Biography

I have a Bachelor’s degree in Latin America Area Studies (you know – all those countries south of the US.) Both my Master’s and Ph.D. degrees in Economics, are from the University of Massachusetts at Amherst.  My areas of specialization are US economic history, money and banking, and political economy. This is the start of my 27th year teaching full time at Black Hawk College. Before that I taught full time at Worcester State College, and Springfield Technical College, both in western Massachusetts. While in graduate school I moved up from Teaching Assistant to teaching courses of my own, in my areas of interest.  In total I have close to 30 years’ worth of experience. 

Course Description:

Study of the basic micro-economic principles of a capitalist market economy: demand and supply; extensions of supply and demand theory to policy problems; define poverty; understand graphs, charts and the statistical concepts underlying them, as it applies to poverty and income; demonstrate a grasp of the causes of the health care crisis; demonstrate an understanding of proposed solutions; learn the progress and challenges of recent US economic growth.

Expected Outcomes: 

By the end of the semester the student should be able to:  

  1. Define economics. Define and differentiate between microeconomics and macroeconomics.
  2. Differentiate between demand and quantity demanded, and explain the determinants of demand.
  3. Differentiate between supply and quantity supplied, and explain the determinants of supply.
  4. Identify what determines the price elasticity of demand and supply.
  5. Understand common statistical tools and apply them to understanding charts, tables and graphs.
  6. Understand and explain recent trends in poverty.
  7. Understand and explain recent trends in income and wealth distribution.
  8. Identify symptoms of the health care crisis.
  9. Describe and critically analyze costs and benefits of different solutions.
  10. Review and understand broad trends in the US economy.

DON’T FORGET TO CHECK FOR VIDEOS TO WATCH

General Guidelines

This is the online section for Principles of Microeconomics 222. While online courses provide more flexibility than traditional courses, students need to be strongly self-motivated. An online course should NOT be viewed as easier, but only more convenient. Expect to put in as much time as for a traditional live course:  between 10-15 hours per week.  This class will cover exactly the same material as the traditional course would and students will be held to the same expectations as those in a traditional course.

A successful student will need to have college reading skills, since the information will mostly be from the textbook, class notes and other readings. You will need to be able to read and analyze written information.  In addition, economics makes extensive use of graphs, charts and tables of all types.  A successful student will be able to analyze and explain these methods of presenting information. 

You need to have college level writing skills.  In this day and age, you should have access to a computer.  The college has many in the computer lab below the library.  All papers are to be written on a computer, using Microsoft Word or some other common software.  Use Grammar and Spellcheck!

YOU MUST HAVE A COMPUTER.  TABLETS MAY NOT WORK AND PHONES MAY NOT WORK FOR ALL ASSIGNMENTS AND TESTS.

Students enrolled in online courses are expected to exhibit the same degree of respect and courtesy to instructors or other students as those in enrolled face-to-face classroom activities.

Title IX

Black Hawk College is committed to fostering a safe, productive learning environment. Title IX and our school policy prohibit discrimination on the basis of sex, which regards sexual misconduct — including harassment, domestic and dating violence, sexual assault, and stalking. We understand that sexual violence can undermine students’ academic success and we encourage students who have experienced some form of sexual misconduct to talk to someone about their experience, so they can get the support they need. Confidential resources are available to those who have experienced sexual misconduct and are listed here (www.bhc.edu/SexualMisconduct ). Faculty and instructors are not confidential resources and are required to report incidents of sexual misconduct to the Title IX Coordinator, who can provide information about resources and options. It is encouraged that students who have experienced sexual misconduct talk with someone to get support. For more information, including how to request interim protective measures and academic accommodations or file a complaint, see “www.bhc.edu/SexualMisconduct”.

Americans with Disabilities Act

Accommodations are provided at Black Hawk College to ensure equal opportunity and access for students with documented disabilities. If you have a disability and require accommodations, contact BHC Disability Services, Building 1, Room 241, on the Quad-Cities Campus (796-5900) or the Educational Advisor on the East Campus (854-1713).

Masks

Students are expected to wear masks in the classrooms.  For questions about Black Hawk College Covid procedures go to https://www.bhc.edu/campus-reopening-and-fall-2021 plans .

Texts

Microeconomics, by Slavin, Stephen 11th edition. DO NOT USE THE 12TH EDITION!

Assignment Guidelines:

  1. I drop the lowest exam grade, which is factored into the computation of the final grade. As a result -
  2. NO MAKE-UP EXAMS!
  3. No extra credit projects will be allowed – they aren’t fair to those of you who are very busy.
  4. However, you may earn up to 5% more points for participation in the Discussion Boards.
  5. Exam formats include definitions, multiple choice and short essays.
  6. The exams will potentially cover all material in the section: the chapters in the text, outside readings, lecture materials and anything from the Internet.

Grading Rubric

My grade rubric is as follows:

90-100 = A                                  

79-89 = B

68-78 = C                                    

57-67 = D

   <56 = F

 

  1. Late work will lose 10% of possible points each day that it is late.
  2. All tests and quizzes combined will be approximately 79% of your grade.
  3. There is a paper on health care as well. (See the rubric below). It is worth 6% of your grade.  It is due at 12:00 PM sharp, October 1.
  4. There is a second paper about health care. (See the rubric below). It is worth 5% of your grade.  It is due at 12:00 PM sharp, October 31.
  5. There will be two papers on the income distribution. (See the rubric below). Combined, they will be worth 10% of your grade.  They will be due at 12:00 PM sharp, November 15 and November 29.
  6. I strongly prefer Microsoft Word.
  7. Do not use Google Docs
    1. DON’T FORGET THE VIDEO LINKS
  2. Please use the following email

Lockardp@BHC.edu

READING LIST/CALENDAR

Week I -II    Resource Utilization

Read                     Chapter 2 Microeconomics, by Stephen Slavin

Test– resource utilization

Week III - IV        Demand and Supply

Read Chapter 4    Demand and Supply in Microeconomics, by Stephen Slavin

Read Chapter 5    Demand, Supply and Equilibrium in Microeconomics, by Stephen Slavin

Test– demand and supply

Week V       Extensions of Demand and Supply

Read Chapter 6    The Price Elasticities of Demand and Supply in Microeconomics, by Stephen Slavin

Test– Price Elasticities of Demand and Supply

Week VI - VII       Health Care Crisis– Symptoms and Causes

Two half tests – one quiz on symptoms and a second quiz on causes of the health care problem

Week VIII - X       Health Care Crisis– Solutions

Two half tests– one on background to solutions (short) and one on proposed solutions to the health care problem

Week XI - XIV     How Incomes are Determined

Read Chapter 18  Income Distribution and Poverty in Microeconomics, by Stephen Slavin

Four quizzes – one about statistical concepts, one on poverty, one about traditional explanations, last one on political economy of income distribution

If we have time, we will do the following section.

History of Modern US Economy

Read Chapter 1    The US Economy in Microeconomics, by Stephen Slavin

Test– Modern US Economy

THE FINAL EXAM IS NOT COMPREHENSIVE!!!  IT IS SCHEDULED DURING FINAL EXAM WEEK, BUT WILL ONLY BE A TEST ON THE LAST SECTION COVERED IN CLASS.

It seems like a lot of quizzes, but just think of them as homework assignments.  The more tests, the less material to study for each one.

This schedule is tentative and there is a possibility that we will not cover the last section.

Papers

Income distribution Paper #1

For this paper, you will need to view the video “Park Avenue:  Money, Power and the American Dream.”

This will be a full, single spaced, one page paper.  The first paragraph will be a summary of the movie.  The second paragraph will be a one paragraph summary of the episode you found the most interesting, and why.

Include a cover sheet.  On the cover sheet, front and center will be the title and below it, your name. Lower right hand corner, my name, course title, date.

Income distribution Paper #2

For this paper, you will need to view EITHER the video “Wealth Inequality in America” or “Chuck Collins:  Taxing the Wealthy”

This will be a single spaced, half page paper that summarizes the movie. The second paragraph will be a one paragraph summary of the episode you found the most interesting, and why. Include one important fact about wealth inequality that you didn’t know prior to this movie.

Include a cover sheet.  On the cover sheet, front and center will be the title and below it, your name. Lower right hand corner, my name, course title, date.

HEALTH CARE Paper #1

For this paper, you must watch the entire movie “Sicko” by Michael Moore.

This will be a full, single spaced, two page paper.  The first page will be a summary of the movie.  The second page will be a summary of the episode you found the most interesting, and why.

Include a cover sheet.  On the cover sheet, front and center will be the title and below it, your name. Lower right hand corner, my name, course title, date.

Rubric: 1) summary 10 pts.; 2) summary of segment/episode 10 pts.; 3) something new that you learned 10 pts.;

HEALTH CARE Paper #2

For this paper, you must watch the YouTube video “FixIT: Health Care at the Tipping Point”.  View the longer version, or you will miss too much.

This will be a full, single spaced, two page paper.  The first page will be a summary of the movie.  The second page will be a summary of the episode you found the most interesting, and why.

Include a cover sheet.  On the cover sheet, front and center will be the title and below it, your name. Lower right hand corner, my name, course title, date.

Rubric: 1) summary 10 pts.; 2) summary of segment/episode 10 pts.; 3) something new that you learned 10 pts.;

 

Drop/Withdrawals

Consult the student handbook

Other

  1. If you feel the grade you received is not consistent with your exam scores, students are permitted six months to challenge a grade.
  2. Check your current BHC Student Handbook for important information about college processes, policies, and procedures.
  3. If you have a disability for which you are or may be requesting an accommodation, please contact your instructor and the Office of Student Accommodations, at 796-5649/792-5903 as early as possible during the semester.
  4. My PowerPoint slides can be found at the following site:

 

http://facweb.bhc.edu/academics/business/lockardp/Power Points.htm

Course Summary:

Date Details Due